The global nanosatellite and microsatellite market size is expected to grow from USD 2.3 billion in 2021 to USD 5.7 billion by 2026, at a Compound Annual Growth Rate (CAGR) of 20.4% during the forecast period. Commercial companies, researchers, academia, and the government are building CubeSats for various operational missions. Commercial companies use these miniature satellites for global imaging and communications while researchers and academia continue to use them for R&D. These CubeSats provide an affordable means of demonstrating exciting new technologies, along with driving the drastic miniaturization of systems and encouraging a new approach to spacecraft integration • By Type, Nanosatellite segment to grow at the higher CAGR during the forecast period
Satellites with mass (including fuel) between 1 kg and 10 kg are nanosatellites with dimensions as small as 10 cubic centimeters.Historically, the first nanosatellite was launched at the beginning of this millennium, which triggered a series of opportunities in various space-based projects, ranging from technological research to biological experimentation.
Several innovative methods of control and development have enormously boosted the optimum usage. A CubeSat is a nanosatellite’s extended design with a standard unit volume of 10 x 10 x 10 cm and can be clubbed up to six units depending upon the mission or assignment.Several low-mission costs with considerable efficiency have majorly attracted the commercial and civil sectors in the past, followed by the government, energy, and the military defense and intelligence sectors to some extent.
The constant innovation and technological advances of miniaturizations of electronics are expected to boost the commercial sector significantly.This, in turn, will affect the proportion of nanosatellite launches during the next couple of years for its economic value and the capabilities of such missions.
It is expected that the demand from across the verticals for nanosatellite services will increase tremendously over the next few years. These services help meet the various business challenges; thus, creating growth opportunities and accelerating technological innovation. • By Verticals, the Commercial segment to hold the larger market size during the forecast period
Private companies can invest in small satellites as they are cheaper, faster to build, and can be launched for commercial purposes.The geospatial technology using Earth-imaging small satellites for agriculture, education, intelligence navigation, mapping, and other uses has driven the commercial sector in the past decade.
Nanosatellites or microsatellites help commercial companies gather global real-time data and distribute it at a surprisingly low price across a wide geographic area to their customers.Nanosatellites and microsatellites are used for commercial purposes, such as communication, voice, data, and videos, internet communication, and video chat.
Between 2013 and 2017, almost half the nanosatellites were launched on military or civil missions and the remaining half for business purposes.The outlook for the next few years is expected to be different.
According to Alén Space, by 2022, up to 75% of all nanosatellites will be launched into orbit for commercial reasons.
Telecommunication players such as Telesat currently use small satellites to provide internet access to the world at the same speed as fiber-optic cables, which is not otherwise possible through conventional satellites.
Telecommunication players, such as OneWeb, are currently using nanosatellites to provide internet access to the world at the same speed as fiber-optic cables. This was not possible through conventional satellites. • By region, Europe to grow at the highest CAGR during the forecast period
Europe has always been an early adopter of new technology or software.The European market grows at a faster rate initially as compared to any other region.
North America has always been an early adopter of new technology or software.The North American market grows at a faster rate initially as compared to any other region.
The demand for nanosatellites and microsatellites in North America is being driven by the booming digitalization across industries, along with the surging demand for Earth observation satellites, which offer extremely high-resolution Earth images and videos as close as one meter or less of the Earth’s surface.To meet the growing business need, more nanosatellite and microsatellite missions are being undertaken via NASA and other private space agencies.
Canada is developing new techniques and cutting-edge technology to boost innovation in nanosatellites and microsatellites.
The breakup of the profiles of the primary participants is given below: • By Company: Tier 1 – 35%, Tier 2 – 45%, and Tier 3 – 20% • By Designation: C-Level Executives – 35%, Directors– 25%, Others*–40% • By Region: North America – 45%, Europe – 20%, APAC – 30%, and RoW** – 5% This research study outlines the market potential, market dynamics, and major vendors operating in the nanosatellite and microsatellite market. Key and innovative vendors in the nanosatellite and microsatellite market include GomSpace (Denmark), Lockheed Martin (US), L3Harris(US), Sierra Nevada Corporation(US), AAC Clyde Space(Scotland), Planet Labs(US), Surrey Satellite Technology(England), Pumpkin(US), OHB SE(Germany), TYVAK (US), NanoAvionics (US), Northrop Grumman (US), GAUSS(Italy), Spire Global(US), SpaceQuest(US), Dauria Aerospace(Russia), RUAG Space(Switzerland), Raytheon(US), EnduroSat(Bulgaria), Astrocast(Switzerland), Millennium Space Systems(US), Swarm(US), Alen Space(Spain), Excolaunch(Germany), and Axelspace(Japan).
Research Coverage The Nanosatellite and Microsatellite Market is segmented into component, type, application, verticals, and region. A detailed analysis of the key industry players has been undertaken to provide insights into their business overviews; services; key strategies; new service and product launches; partnerships, agreements, and collaborations; business expansions; and competitive landscape associated with the Nanosatellite and Microsatellite Market.
Reasons to Buy the Report
The report would help the market leaders and new entrants in the following ways: • It comprehensively segments the Nanosatellite and Microsatellite Market and provides the closest approximations of the revenue numbers for the overall market and its subsegments across different regions. • It would help stakeholders understand the pulse of the market and provide information on the key market drivers, restraints, challenges, and opportunities in the market. • It would help stakeholders understand their competitors better and gain more insights to enhance their positions in the market. The competitive landscape section includes a competitor ecosystem, new product launch, product enhancement, partnerships, mergers, and acquisitions.
Our reports have been used by over 10K customers, including:
The SATCOM on the move market is projected to grow from USD 17.7 Billion in 2021 to USD 42.8 Billion by 2026, at a CAGR of 19.3%. SATCOM equipment is an integral part of the communication in commercial and defense industry. The deployment of low earth orbit (LEO) satellites and constellations of satellites for communications applications has...
The SATCOM equipment market is projected to grow from USD 22.0 billion in 2021 to USD 53.7 billion by 2026, at a CAGR of 19.6%. SATCOM equipment is an integral part of the communication in commercial and defense industry. The deployment of low earth orbit (LEO) satellites and constellations of satellites for communications applications has...
The healthcare satellite connectivity market is expected to grow from US$ 6,797.22 million in 2021 to US$ 10,105.21 million by 2028; it is estimated to grow at a CAGR of 5.8% from 2021 to 2028. The growth of the healthcare satellite connectivity market is mainly attributed to factors such as the government initiatives for promotion and...
The satellite payloads market size is projected to grow from USD 3.7 Billion in 2021 to USD 11.3 Billion by 2026, at a CAGR of 24.8% from 2021 to 2026. The satellite payloads market is growing at a significant rate across the world, and a similar trend is expected to be observed during the forecast period. Ongoing advancements in space technology...
Increased demand for LEO-based services and demand for Earth observation imagery and analytics are the major factors driving the Small Satellite Market. The global Small Satellite market size is projected to grow from USD 2.8 billion in 2020 to USD 7.1 billion by 2025, at a CAGR of 20.5% from 2020 to 2025. The market is driven by various...
The increasing need for high-resolution satellite imagery for data analytics, geospatial analytics, and deriving business intelligence, among others, are expected to fuel the growth of the satellite data services market across the globe. The satellite data services market size is projected to grow from USD 7.5 billion in 2019 to USD...
Executive Summary A comprehensive research report created through extensive primary research (inputs from industry experts, companies, stakeholders) and secondary research, the report aims to present the analysis of global small satellite market on the basis of Types (Nano Satellite, Micro Satellite, Mini Satellite), By Application...
Satellite transponders are small chip size circuits that are integrated into satellites for the purpose of transmitting the uplink data/information to the downlink and vice-versa. The rising trend of advanced channel broadcasting has escalated the demand for satellite transponders across the globe. These transponders are provided on lease...
Increased deployment of small satellites and rising space exploration missions are expected to drive the satellite bus market The satellite bus market is estimated at USD 10.21 billion in 2017 and is projected to reach USD 13.64 billion by 2022, at a CAGR of 5.97% during the forecast period. Key factors such as technological advancements...
Number Of Small And Medium-Sized Enterprises
You can change your Cookie Settings at any time but parts of our site will not function correctly without them.